However, how the measure would be enforced, the amount businesses would have to contribute and how the funds would be distributed is not clear.
The local community benefit fund would be used to support infrastructure, training, community organisations and initiatives to improve liveability and economic participation, Premier Jeremy Rockliff announced on Wednesday.
Major AI and data-centre proponents would be "expected to contribute" to the fund, he said.
Community groups have raised concerns about plans by Firmus to build data centres in Tasmania.
The company was left red faced on Friday when it withdrew its planned initial public offering on the Australian Securities Exchange due to a lack of investor interest.
Firmus has forked out to sponsor multiple island state sporting teams, including Cricket Tasmania, the Tasmania JackJumpers and Jewels and the Devils AFL club.
Mr Rockliff indicated the sponsorship arrangements would not count towards the fund.
The fund would be applied retrospectively to Firmus developments already under construction or in the planning process.
It would be set up as soon as possible and advice was being sought on the best mechanism to ensure companies contributed to the fund, he said.
Tasmania had an opportunity to become a national leader in responsible AI infrastructure, but investment must deliver tangible and lasting benefits, he said.
"This is an opportunity to ensure AI data centres pay their way," Mr Rockliff told reporters.
"There are examples in other places in the world including in the United States of how these are applied."
Other requirements made as part of the announcement include quarterly public reporting from companies on water and energy use.
Companies must also help grow Tasmania's energy supply, support new renewable generation and be located in appropriate industrial precincts.
"We've been listening and people want more information," Mr Rockliff said.
The state's Labor opposition said the premier was looking to buy community favour and had many questions to answer.
"Premier Rockliff must tell the community how much Firmus will pay into his new fund," opposition spokeswoman for innovation, AI and the digital economy Janie Finlay said.
"Tell Tasmanians how much Firmus will pay, when it will pay, and where that money will go," she said.
"The premier also needs to explain how any of this will be enforced."
The federal government has developed national expectations for data centre companies, while SA will hold a royal commission into AI.
Firmus has been contacted for comment.
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